Just What Does it Mean? More Fuel for the Fire
There have been, literally, hundreds of comments in the past few weeks over the state of the Hoboken real estate market. I don’t think this one will be resolved any time soon but here are the May sales results. List price is down, average sales price is down, median sales price is down, but both average and median price per square foot is up.
Sales volume is better than it’s been in the past but nowhere near where it would need to be to soak up all the inventory on hand. To me, that is the critical figure – there are simply too many properties for sale in the Hoboken market.
My question to the nay-sayers, however, is this: if real estate is going to crash and burn, where do you invest? The stock market is down, interest rates are effectively zero. I’d love to hear predictions for which investments are likely to perform well in a doom and gloom scenario. That’s not to say I’m a believer – just curious to hear your thoughts.